Jump to content

Please consider disabling your adblocker for CreditBoards if you have not already done so.  This site depends on advertising revenue to stay online.


  • Content Count

  • Joined

  • Last visited

  1. Thanks, Marv! I should add -- I know that ultimately I just need to apply and see if I prequalify, but I'm asking now because I'm trying to decide what I should do about my current rental situation, which is not ideal. If I get the sense I will qualify soon, I'm going to suck it up and look to buy a house this spring/summer. If it sounds like I'm a year away from it (need lower CC further, bigger downpayment, etc), I'll go ahead and sign a year lease on a different apartment.
  2. Hi, all. I'd like some input on 1) Whether I'd qualify for a mortgage 2) If not, how much more I have to do 3) If yes, what kind of loan and what kind of lender should I look into Income: ~$70k a year at current job, but have only been here 4 months, and I've had 4 employers in 4 years. Higher salaries, but same title. Common in my industry, but I know it doesn't look good. Price range: I'm looking for something in the $100-130k price range. I would only want to go bigger than that for a house that had strong potential for renting out part of it. (I'm in a college town in rural central PA, lots of carriage house apartments here). Credit/downpayment: Credit Karma scores are 635-648. One 30 day late, history is not long (7 years) and CC utilization is at 24% (19k/80k) On the good side I do expect that by the end of March, which is when I hope to be applying, I will have that utilization down to ~14% AND have money saved up for a 3.5% downpayment. Debt: This is my big problem: I have $150k in student loan debts (professional education in an occupation that I am currently unable to pursue). It’s all in deferral now (Covid) but obviously payments will resume at some point. Car loan of $5k. I am in a USDA loan eligible area. I jointly owned a house before, with my ex. I heard if it’s just me now, I qualify as first-time buyer (?). Thanks for any help!

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
  • Create New...

Important Information